Stanley Black & Decker ups profits as sales slip

NEW BRITAIN, Conn. — Stanley Black & Decker saw sales decline to $2.85 billion, compared to $2.98 billion in Q4 of 2014, taking market watchers by surprise. Net income of $265.5 million was a considerable increase from $145.8 million a year earlier, which included a $74 million loss from discontinued businesses. The disparity between sales and profits is largely attributable to the increasingly strong U.S. dollar. As the company earns half its revenue outside the U.S. it has been feeling the pressure of the greenback’s fluctuations especially hard.